A man carrying a paper bag of groceries appears surprised and dismayed by a receipt from a supermarket showing high prices, set against the backdrop of an escalator with shoppers in a shopping center.
Elena Perova | Istock | Getty Images
Just in time for the holiday season, Walmart had some good news for shoppers tired of inflation: Prices for food and other essentials were dropping instead of rising. The retail giant indicated that if this trend continued, it could lead to deflation in certain key household categories, which would be a relief for consumers facing the highest price hikes in decades.
However, the retail giant has now changed its stance, stating that prices for many grocery items and household essentials like paper products have remained high.
“While there is deflation in certain categories, the overall possibility still exists, but prices are more stable than they were three months ago,” said CFO John David Rainey in an interview with CNBC.
In recent weeks, corporate leaders have echoed similar sentiments…
2024-02-25 08:00:01
Original from www.cnbc.com